Study finds 2012 profitable year for GCC banks
A recent study from the Boston Consulting Group has found that banks in the Middle East enjoyed revenue growth of a 6.9 percent increase and an increase in of 8.1 percent.
March 27, 2013 6:18
Power of criminal sanctions: Libor reform effect on GCC business
Any reforms in setting Libor will affect the cost of doing business in the GCC and hence should be of importance to both lenders and borrowers...
September 24, 2012 2:27
UAE central bank confirms Barclays to leave rate-setting panel
The United Arab Emirates central bank confirmed Barclays has asked to withdraw from the country's interbank lending rate-setting panel, and will leave after completing a mandatory 90-day notice period.
July 19, 2012 11:00
Barclays to leave UAE rate panel in 90 days
Barclays, hit by the Libor scandal in Britain, will leave the rate-setting panel for interbank lending in the United Arab…
July 18, 2012 11:08
Libor scandal forces Barclays from UAE rate panel
British bank Barclays plans to pull out of the rate-setting panel for interbank lending in the United Arab Emirates because of its involvement in the Libor scandal in Britain, industry sources told Reuters on Sunday.
July 16, 2012 10:28
New rules to boost Kuwait capital markets
Kuwait’s new loan-to-deposit ratio rules for banks are aimed at encouraging capital market development, improving asset-liability matching and boosting credit…
May 22, 2012 9:18
Dubai Lender ENBD's Q1 Profit Beats Forecasts
Emirates NBD reported a forecast-beating first-quarter net profit as a near 50-percent rise in non-interest income and lower impairments boosted profitability.
April 25, 2012 2:48
Mashreq Bank Q1 Net Profit Up 2 Percent
Mashreq bank posted a 2 percent rise in first-quarter earnings, as a fall in provisions outweighed lower total income. Net profit increased to 271 million dirhams ($73.8 million) in the period, up from 265.3 million dirhams a year earlier, a bank statement said.
April 25, 2012 10:39
First Gulf Bank Q1 Net Up 7 Percent
The bank made a net profit of 935 million dirhams ($ 254.7 million) in the three months to March 31, up from 875.28 million dirhams in the prior-year period, FGB said in a statement on Monday
April 23, 2012 4:18
Cash under the mattress: a new chapter for regional banks
Everyone’s got a theory about where best to keep money. And even though banks used to be the go-to alternative, its future remains uncertain. That is, if they don’t change.
March 25, 2012 3:55
Enjoy the good times while it lasts, says investment chief
Emirates NBD’s investment chief Gary Dugan takes a positive tactical view of equities but remains wary of political risk in the Euro zone. He shares his thoughts on gold, government bonds and the US economy.
March 21, 2012 3:18
Dubai’s Emirates NBD eyes 5-year benchmark dollar bond
Emirates NBD, Dubai's largest lender by market value, has picked banks to arrange a new five-year dollar bond which could price as early as Wednesday, lead managers said on Wednesday.
March 21, 2012 2:04
Abu Dhabi’s NBAD prices 5-year $750M bond
National Bank of Abu Dhabi , the largest lender by market value in the UAE, priced a $750 million 5-year bond late on Monday, with a yield of 3.304 percent.
March 20, 2012 11:05
StanChart seeks nod for Saudi licence
Standard Chartered has sought a full commercial banking licence from the Saudi central bank as the UK lender aims to plug the biggest gap in its growing Gulf Arab business, two sources familiar with the matter said on Sunday.
March 12, 2012 1:53
MidEast sukuk issuance seen over $14B in 2012 – HSBC
The issuance of Islamic bond, or sukuk, in the Middle East could reach over $14 billion this year, according to HSBC, as investor demand and the relatively lower volatility of the asset class drive sales.
March 7, 2012 2:02
A major step for Turkey
As Prime Minister Erdogan showcases Turkey's prestige on a visit to the White House, the country has its ratings upgraded...
May 19, 2013 9:45
Dusting off the Emirates ID card
The Emirates Identity Authority is 'keen' on making its ID cards more functional.
May 16, 2013 5:57
Taking on Abercrombie & Fitch
Controversial views from the clothing company's CEO causes huge backlash.
May 16, 2013 2:43
Fake pilot 'on the run'
Michael Fay forged papers and operated as a pilot for Afriqiyah Airways for eight months. . .
May 14, 2013 11:26